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By TIMES WIRES
Published October 10, 2006

Jewelry company spends $12.4M for rough diamond

A South African company bought the world's 15th-largest rough diamond Monday, paying more than $12-million for the golf ball-sized gem found in the tiny Southern Africa country of Lesotho, officials said. South African Diamond Corp., the overseas manufacturing arm of famed British gem seller Graff Jewelers, bought the 603-carat stone for $12.4-million, said Lesotho's Natural Resources Minister Mamphono Khaketla, whose government co-owned the gem with a private concern, Gem Diamonds. South African Diamond Corp. said it plans to turn the raw stone into one cut gem above 60 carats in addition to other, smaller stones, with a final sale price of more than $20-million. Experts have graded the stone "class D," saying it is of the clearest quality, with no color blemishes.

Liquor companies have to wait out cover girl Hogan

"Laddie" magazines like FHM are known to sometimes test the boundaries of good taste. But they face a restriction: These magazines rely on Hollywood B-listers to sell copies but, while Hollywood may like its starlets young, cover models must be older than 21. Liquor companies will not advertise in magazines if the face on the cover cannot legally drink. So when the editors at FHM (For Him Magazine) decided to put a scantily clad Brooke Hogan, the 18-year-old daughter of wrestler Hulk Hogan, on their November issue, they were forced to notify liquor advertisers and lost those ad pages in the issue. Dana Fields, executive publisher and president of FHM, said all of the liquor advertisers decided to move their ads to the December issue.

[Last modified October 9, 2006, 22:48:31]